CBN Retains Monetary Policy Rate At 11.5 Percent   The Monetary Policy Committee (MPC) has decided by a vote of six members against four to retain all monetary instruments around the Monetary Policy Rate at 11.5 per cent. The apex bank held the asymmetric corridor of +100/-700...

CBN Reveals Guidelines For Cash Hub Operations   In a bid to ease huge cash management and deepen financial inclusion, the Central Bank of Nigeria (CBN) has released guidelines for the operation of the Bank Neutral Cash Hubs (BNCHs). According to a statement on its website, the...

CBN Increases Currency In Circulation By N418bn   The Currency in Circulation rose by N418bn from N2.91tn in December, 2020, to N3.33tn in December, 2021, according to figures obtained from the Central Bank of Nigeria. The CBN data showed that currency in circulation had increased by 19.06...

CBN Seeks Increased Private Sector Investment In Dairy Production   The Central of Bank of Nigeria (CBN) is seeking increased private sector participation in dairy to position the industry for growth. A representative of the apex bank, Garba Aminu, spoke during the opening of a Milk Collection...

Banks’ Non-performing Loans Fall Below 5%, First Time In 10 Years   The Central Bank of Nigeria (CBN) has stated that for the first time in about a decade, the non-performing loans (NPLs) levels of commercial banks in Nigeria has fallen below the regulatory benchmark of...

Banks Cut Borrowing From CBN By 47%   Banks’ borrowing from the Central Bank of Nigeria, CBN, fell for the second consecutive month in February, by 47 percent to N666 billion, driven by further improvement in the level of liquidity in the interbank system. On the other...